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Audit approach overview
Our audit approach will allow our client's accounting personnel to make the maximum contribution to the audit effort without compromising their ongoing responsibilities
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Annual and short period audit
At P&A Grant Thornton, we provide annual and short period financial statement audit services that go beyond the normal expectations of our clients. We believe strongly that our best work comes from combining outstanding technical expertise, knowledge and ability with exceptional client-focused service.
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Review engagement
A review involves limited investigation with a narrower scope than an audit, and is undertaken for the purpose of providing limited assurance that the management’s representations are in accordance with identified financial reporting standards. Our professionals recognize that in order to conduct a quality financial statement review, it is important to look beyond the accounting entries to the underlying activities and operations that give rise to them.
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Other Related Services
We make it a point to keep our clients abreast of the developments and updates relating to the growing complexities in the accounting world. We offer seminars and trainings on audit- and tax-related matters, such as updates on Accounting Standards, new pronouncements and Bureau of Internal Revenue (BIR) issuances, as well as other developments that affect our clients’ businesses.
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Tax advisory
With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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Corporate services
For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.
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Tax education and advocacy
Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting measures to increasingly ease tax compliance, and protecting taxpayer’s rights.
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Business risk services
Our business risk services cover a wide range of solutions that assist you in identifying, addressing and monitoring risks in your business. Such solutions include external quality assessments of your Internal Audit activities' conformance with standards as well as evaluating its readiness for such an external assessment.
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Business consulting services
Our business consulting services are aimed at addressing concerns in your operations, processes and systems. Using our extensive knowledge of various industries, we can take a close look at your business processes as we create solutions that can help you mitigate risks to meet your objectives, promote efficiency, and beef up controls.
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Transaction services
Transaction advisory includes all of our services specifically directed at assisting in investment, mergers and acquisitions, and financing transactions between and among businesses, lenders and governments. Such services include, among others, due diligence reviews, project feasibility studies, financial modelling, model audits and valuation.
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Forensic advisory
Our forensic advisory services include assessing your vulnerability to fraud and identifying fraud risk factors, and recommending practical solutions to eliminate the gaps. We also provide investigative services to detect and quantify fraud and corruption and to trace assets and data that may have been lost in a fraud event.
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Cyber advisory
Our focus is to help you identify and manage the cyber risks you might be facing within your organization. Our team can provide detailed, actionable insight that incorporates industry best practices and standards to strengthen your cybersecurity position and help you make informed decisions.
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ProActive Hotline
Providing support in preventing and detecting fraud by creating a safe and secure whistleblowing system to promote integrity and honesty in the organisation.
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Accounting services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of industries. Our approach is highly flexible. You may opt to outsource all your accounting functions, or pass on to us choice activities.
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Staff augmentation services
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll Processing
Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department.
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Our values
Grant Thornton prides itself on being a values-driven organisation and we have more than 38,500 people in over 130 countries who are passionately committed to these values.
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Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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Learning & development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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Behind the Numbers: People of P&A Grant Thornton
Discover the inspiring stories of the individuals who make up our vibrant community. From seasoned veterans to fresh faces, the Purple Tribe is a diverse team united by a shared passion.
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Fresh Graduates
Fresh Graduates
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Students
Whether you are starting your career as a graduate or school leaver, P&A Grant Thornton can give you a flying start. We are ambitious. Take the fact that we’re the world’s fastest-growing global accountancy organisation. For our people, that means access to a global organisation and the chance to collaborate with more than 40,000 colleagues around the world. And potentially work in different countries and experience other cultures.
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Experienced hires
P&A Grant Thornton offers something you can't find anywhere else. This is the opportunity to develop your ideas and thinking while having your efforts recognised from day one. We value the skills and knowledge you bring to Grant Thornton as an experienced professional and look forward to supporting you as you grow you career with our organisation.
Do what you love, and you will never have to work a day. This quote, earlier attributed to Chinese philosopher Confucius, is inspiring and true. But on the flip side of the coin, it can pose false expectations. The work dynamic centuries ago is far different from what we have today, and simply doing what you are passionate about is not enough consideration when weighing employment options.
We spend around eight hours at work. Add another hour for preparation, plus two hours for commute to and from work, depending on several factors that can increase travel time like traffic. And these only form part of the physical preparations for work. What is more tolling than physical fatigue is work-related stress, a factor often overlooked but is one of the workplace challenges cited by employees in the American Psychologists Association’s 2021 Work and Well-Being survey. Doing what you love is clearly not enough, especially when too much stress at work leads to burnout.
Work burnout is classified as an occupational phenomenon. The International Classification of Diseases (ICD-11) defines it as a syndrome which occurs as a product of chronic workplace stress that has not been adequately managed and addressed. It is characterized by “feelings of energy depletion or exhaustion, increased mental distance from one’s job or feelings of negativism or cynicism related to one's job, and reduced professional efficacy”.
Effects of employee burnout
Mental health matters. Because we spend so much of our time at work, it has a direct and profound effect on our overall health. The effects of work burnout not only impact work productivity; they likewise affect the overall personal well-being of staff. McKinsey research discussed that one in four employees reported experiencing work burnout, a factor that make them much more likely to quit their jobs. This is already apparent in many workplaces today, with companies reporting higher attrition rates. One of the factors driving the higher employee turnover rate? Factors correlated with burnout like toxic workplace behavior and culture.
More companies today are putting in extra effort to manage and address employee burnout. Another McKinsey article emphasized that HR teams now offer health and wellness perks to staff like yoga subscriptions and training on time management. However, offering such perks should not be the be-all and end-all when it comes to ensuring the welfare of staff.
Consider enforcing “well-being days”
Many organizations today are implementing what they call well-being or wellness days, periods during which staff get to enjoy a mandatory day-off from their work duties to recharge. While often considered part of work-life balance, wellness days offer so much more. During these days, employers get to engage staff in exercises that put a premium on developing employees’ psychological and physical welfare. These may come in the form of mentoring and sessions with professionals that offer guidance on areas like proper nutrition and even the benefits of practicing the principle of “mindfulness”. Implementing designated wellness days every month provides a host of benefits like increased work productivity and affords staff the opportunity to learn new skills.
Improve workplace productivity metrics
A Gallup study cited in an article reveals that when employees feel that they have control over their performance metrics, they are “55% less likely to experience burnout frequently”. Companies should strive to adopt metrics that are free from external factors that influence overall rating of staff. It should be emphasized that it is extra difficult to work diligently when you know that factors aside from your own performance at work can influence your job rating, thereby increasing chances that employees will feel anxious and stressed.
Embed employee engagement in office culture
A toxic workplace is more detrimental than we think. Taking steps to improve organizational culture, the sum of workplace norms, enable a company to avoid toxic situations that may lead to stress buildup and subsequently, burnout. HR teams should be at the fore of ensuring and, more importantly, showing that the company cares for its staff and is concerned about their welfare. When long work hours are tolerated and worse, practiced and praised over completing job deliverables more efficiently though at a shorter time, this will become a habit difficult to break.
In the end, the power to dictate work practices that promote employee well-being is at the hands of the company and team leaders. Fostering a positive environment where employees can thrive and excel, improving performance indicators, and adopting employee engagement strategies will not only leave a rosy impact on staff members’ overall mental health; it will lead to improved work productivity as well.
As published in The Manila Times, dated 30 November 2022